Encana, PetroChina shale deal collapses

PetroChina Co. Ltd., the listed arm of China National Petroleum Corp. (CNPC), and Canada’s Encana, failed to reach agreement on a joint venture (JV) to develop shale gas assets in western Canada, Encana said in a statement late on Tuesday.
By James Batty 22 June 2011 0 190

PetroChina Co. Ltd., the listed arm of China National Petroleum Corp. (CNPC), and Canada’s Encana, failed to reach agreement on a joint venture (JV) to develop shale gas assets in western Canada, Encana said in a statement late on Tuesday.

PetroChina representatives in Beijing and Hong Kong declined to comment on the breakdown in talks when contacted by Interfax on 22 June.

On 10 February 2011, PetroChina announced its intention to buy a 50% stake in Encana’s Cutbank Ridge gas assets in British Columbia and Alberta for...

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